Archemix and Merck KGaA to Collaborate on Aptamer-Based Cancer
Therapeutics

CAMBRIDGE, Mass., January 17, 2007 /PRNewswire/ -- Archemix
Corp. announced today that it has signed a multi-year, multi-target
agreement with Merck KGaA of Darmstadt, Germany, that focuses on
the discovery, development, and commercialization of first-in-class
aptamer-based therapeutics to treat cancer.

Under terms of the agreement, Archemix will receive an upfront
payment and committed research funding of as much as $10 million.
Archemix also could receive milestones and royalty payments for
products successfully commercialized under the collaboration. In
addition, Archemix may participate in the co-promotion of products
that result from the collaboration. Other financial terms were not
disclosed.

Dr. Errol De Souza, President and Chief Executive Officer of
Archemix, commented: "Merck is a recognized global leader in
oncology drug development and marketing, and we are excited to be
working with them to apply our scientific expertise in developing
novel aptamer therapeutics for cancer. This alliance is the fourth
major partnership we have formed over the past six months and is
consistent with our strategy to enable partners to leverage
aptamers as drugs on a target-by-target basis."

"Archemix is the leader in the field of aptamers, a new class of
drugs that has tremendous potential in the battle against cancer,"
said Dr. Bernhard Kirschbaum, Executive Senior Vice President and
Director of Research for Merck Serono. "We hope this collaboration
will further our efforts to provide physicians and oncology
patients with innovative, targeted cancer treatments."

About Aptamers

Aptamers are single-stranded nucleic acids that form
well-defined three dimensional shapes, allowing them to bind target
molecules in a manner that is conceptually similar to antibodies.
Aptamers combine the optimal characteristics of small molecules and
antibodies, including high specificity and affinity, chemical
stability, low immunogenicity and the ability to target
protein-protein interactions. In contrast to monoclonal antibodies,
aptamers are chemically synthesized rather than biologically
expressed, offering a significant cost advantage.

About Archemix Corp.

Archemix Corp. is a privately-held biopharmaceutical company
based in Cambridge, Massachusetts. The company's mission is to
develop aptamers as a class of directed therapeutics for the
prevention and treatment of human disease. Because of their unique
properties and proven efficacy, aptamers offer an alternative to
biologics and small molecules in numerous applications and offer
the potential to be a major class of drugs for the treatment of
unmet medical needs.

Archemix's aptamer expertise is complemented by a robust patent
estate comprised of over 220 issued and 230 pending patents
covering the identification, composition, and use of therapeutic
aptamers. In addition to the company's core aptamer generation
technology, Archemix possesses strong expertise in both
pre-clinical and clinical drug development. Further information on
Archemix can be found at http://www.archemix.com.

About Merck

Merck is a global pharmaceutical and chemical company with sales
of EUR 5.9 billion in 2005, a history that began in 1668, and a
future shaped by about 35,000 employees in 56 countries. Its
success is characterized by innovations from entrepreneurial
employees. Merck's operating activities come under the umbrella of
Merck KGaA, in which the Merck family holds a 73% interest and free
shareholders own the remaining 27%. In 1917 the U.S. subsidiary
Merck & Co. was expropriated and has been an independent
company ever since.

For more information about Archemix or aptamers, or to speak
with Dr. De Souza, please contact Davia Temin of Temin and Company
at 212-588-8788 or . news@teminandco.com